Binance founder Changpeng Zhao (CZ) has initiated a discussion around a significant reduction in gas fees on the BNB Chain, proposing a cut by three to ten times. This move aims to bolster BNB Chain's competitiveness as network activity increases and rivals like Solana and Ethereum maintain competitive transaction costs. Currently, users pay a median gas fee of $0.01 per transaction on BNB Chain, but CZ suggests even lower rates could be possible.
Over the last 24 hours, BNB Chain processed more than 7.2 billion transactions, with the idea being to deliver further cost savings to users without jeopardizing network stability or validator incentives—a potential concern with slashing fees too drastically. Meanwhile, Ethereum continues to see higher average fees (about $0.42), while Solana remains the most affordable at roughly $0.0035 per transaction. If CZ’s proposal is enacted, BNB Chain could offer users a balance of both affordability and security, potentially reshaping the competitive landscape of leading Layer 1 blockchains. No official implementation has been confirmed yet.